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Does a swimming pool increase a property's value?

14/11/2013

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'Pool' is the number one most searched for feature by browsers of Australian property website realestate.com.au. It also appears twice in the top ten ('pool', 'swimming pool') along with 'waterfront', 'living + areas', 'granny flat', 'bedrooms', 'views', 'investment', 'duplex' and 'shed'.

While some say that owning a swimming pool may affect a property's sales potential by ruling out some groups of buyers, it seems Australians are still attracted to the delights of a backyard pool.

In deciding if a pool really does add value; experts advise it's important to consider design features and quality of construction. Many pools are now almost an extension of the house, making them part of the entertainment area and visible from living rooms for easier supervision of kids.  A well-designed pool should not overwhelm the garden, but instead fit with the landscape and still allow room for outdoor entertainment and a grassy play area.

It's likely that as water becomes more precious, the future costs of owning and filling a pool will be greater. Add to this the costs of a pool cover, cleaner, lighting, heating and maintenance products including chemicals.

For some home owners these outlays are worth it for the lifestyle benefits a pool in the backyard brings. As the weather continues to warm, so too will the interest in owning a pool.

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Cash Rate remains unchanged for November 2013 at 2.5%

14/11/2013

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Interest Rate Bulletin November 2013
 
Statement by Glenn Stevens, Governor: Monetary Policy Decision
 
At its meeting today, the Board decided to leave the cash rate unchanged at 2.5 per cent.

Recent information is consistent with global growth running a bit below average this year, with reasonable prospects of a pick-up next year. Commodity prices have declined from their peaks, but generally remain at high levels by historical standards. Inflation in most countries is well contained.

Overall, global financial conditions remain very accommodative. Volatility in financial markets has abated recently. Long-term interest rates remain very low and there is ample funding available for creditworthy borrowers.

In Australia, the economy has been growing a bit below trend over the past year and the unemployment rate has edged higher. This is likely to persist in the near term, as the economy adjusts to lower levels of mining investment. Further ahead, private demand outside the mining sector is expected to increase at a faster pace, though considerable uncertainty surrounds this outlook. There
has been an improvement in indicators of household and business sentiment recently, but it is still too soon to judge how persistent this will be. Public spending is forecast to be quite weak.

Recent data on prices show inflation consistent with the medium-term target. The Bank's assessment is that this is likely to remain the case over the next one to two years.

The easing in monetary policy that has already occurred since late 2011 has supported interest-sensitive spending and asset values. The full effects of these decisions are still coming through, and will be for a while yet. The pace of borrowing has remained relatively subdued overall to date, though recently there have been signs of increased demand for finance by households. There is
also continuing evidence of a shift in savers' behaviour in response to declining returns on low-risk assets. Housing and equity markets have strengthened further, trends which should in time be supportive of investment.

The Australian dollar, while below its level earlier in the year, is still uncomfortably high. A lower level of the exchange rate is likely to be needed to achieve balanced growth in the economy.

At today's meeting, the Board judged that the setting of monetary policy remained appropriate. The Board will continue to assess the outlook and adjust policy as needed to foster sustainable growth in demand and inflation outcomes consistent with the target.

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